How will you solve the cashu rugpull problem? Thats the thing that concerns me about this protocol.

Yes, and I would say that again.

Join us.

#Bitcoin

yea in hindsight, looks like they were right about many things.

This is the narrative which is more than a decade old now.

A 12tb harddrive costs 120$ now, Internet speed is 10-50x faster. There is no point running a node on a raspberry pie for $50. A single transaction has cost more a couple weeks ago.

Instead of increasing the blocksize to a reasonable size, adapt to the technological progress we have a chain which forces users into custodial wallets, which are not decentralized at all. It is paypal on bitcoin, no progress, no privacy, no control over your coins.

The blocksize limit is destroying everything what bitcoin was made for. It was supposed to be a p2p currency and to replace banks. Now we have Bitcoin Banks. Fuck that.

Monero.

The tiny blocksize makes sure that Bitcoin stays decentral. If you raise the blocksize, Bitcoins blockchain would grow too fast, requiring more storage, which could get really expensive, which would lead to the point that running a fullnode would centralize to less and rich entities. Currently, a 1TB SSD is enough to store the whole Bitcoin blockchain.

And we should think about why Blockstream pays most of the Core developers, is against scaling of Bitcoin (its 2024 and we still have tiny blocksize) in order to sell their own L2, Liquid network where they collect all the fees...

This needs to be addressed in the community, now.

Im also not a fan of huge blocks, but a blocksize upgrade to 10mb or something would solve most problems for now, also self custodial lightning would be easier if fees were lower.

The current limit is treated like a golden cow which can not be touched even though we have much faster internet and much larger storage capacity than 13 years ago.

Sad to see that so many people get onboarded to custodial lightning wallets which is just paypal on bitcoin, no privacy, not your coins, not your keys. Just a bank with a different name.

Maybe if Monero had support, we could use that instead of BTC, but the maxis would call me a poopcoiner, when I would be justified due to how bad that situation had gone. Thank the centralizer maxis for that (plus fronts from bad actors that swayed this war).

is this working for someone. Just playing first time with #Mutiny and #cashu

Free #sats anyone? #nostrplebs #nostr #fedimint #ecash

cashuAeyJ0b2tlbiI6W3sicHJvb2ZzIjpbeyJhbW91bnQiOjMyLCJzZWNyZXQiOiJiZWFmZTZhNmQ0YWQzYTdiMjM4M2I1MjFmNmUwY2RiOWQwZTk0ZDYwODkyMDhjN2QwMTlmZGU2ZTZhZDMwZjU5IiwiQyI6IjAyY2EyMDE0YTVkZDI5Y2U2MDgyMTA1M2VlOWJmZDY4YTJkZDRmNmVmMjQyMDhiMTg0M2FkMmExZWZlZjYyNmE4ZSIsInJlc2VydmVkIjpmYWxzZSwiaWQiOiI5bWxmZDV2Q3pnR2wifSx7ImFtb3VudCI6MTYsInNlY3JldCI6IjYxZjc3OWZiZDdjYTMzMjVjZmI1MzRkYTY1NTNiYjVhMjc2MDc0NWU2MzJlM2Q4NDM4MTkyZDRhY2IyZjU4ZTEiLCJDIjoiMDI0MjM1ZWEzNjA2NmMwNGM3NmFmMjZmYmZhYmE3YjkzZjY2NDIzNjc3YmRhZmMyOGZiYjYzM2I4Y2VhMWZlNmNjIiwicmVzZXJ2ZWQiOmZhbHNlLCJpZCI6IjltbGZkNXZDemdHbCJ9LHsiYW1vdW50IjoxLCJzZWNyZXQiOiJmMDc3N2U1NDE2ZDZjN2FmZjI2MTMyMTU2NDhmNGI2MTgzNmIyMGM2ODFiZjJkYjk1MzBhMzgxMGNhMDU1NDQxIiwiQyI6IjAzOWU5ZGQ1OTcwNzM5YTA2MzlhZDI4NmRhN2EyYTk4Y2IwZTcyYjk3MzcyMmE0MzA1YTIyMzQ0Njc0ZGZkMmRhNCIsInJlc2VydmVkIjpmYWxzZSwiaWQiOiI5bWxmZDV2Q3pnR2wifSx7ImFtb3VudCI6MSwic2VjcmV0IjoiODFiMzRhMTM2NTY3YzI5ZThlMWNmODIxMWIzZWJlMDRjNTlkMGU5OWIyMWY0YmIyNzM4ZjRmZDViYjhjNDVkNiIsIkMiOiIwMzg4YzdhOTdmZjAyY2MxYjQxZWZmNzVjYzhkNzkyOTk2MjU5Y2NjZjhkNDg5MzQxNjU0YTljYjViMzdkNGFmODYiLCJyZXNlcnZlZCI6ZmFsc2UsImlkIjoiOW1sZmQ1dkN6Z0dsIn1dLCJtaW50IjoiaHR0cHM6Ly9taW50Lm1pbmliaXRzLmNhc2gvQml0Y29pbiJ9XSwidW5pdCI6InNhdCJ9

A lot of people don't seem to get it. e-cash is A solution. It's not the answer to all our scaling problems. If you open your eyes and see what's happening outside you will quickly realize e-cash can be very quickly shut down in a lot of parts of the world. If you didn't realize yet, the fedimint federation everyone got excited and started using said they're shutting down and asked everyone to withdraw their funds. We need real scaling and privacy solutions. Not hacky workarounds.

#ecash #cashu #fedimint

Can someone explain to me who the fudge are these ecash mints? Not to dox them, but are they people? Or are they pieces of software? And why should I have to worry about trusting a mint? Why can't I just trust an open source mint protocol? That's really what I'm getting at. I don't even want to trust a 7 of 9 or whatever mint with 9 people involved. Can't it be that the ecash protocol is an automated single sig basic wallet that can create LN channels and it mints ecash on demand and we all just use the same distributed ecash mint protocol? (Is it possible to build a program which holds private keys that are unaccessible to even the coder of the program?)

I guess I really don't understand the likelihood of getting ecash rugged. And I'm not clear on how decentralized or robust the mints are from attack.

Mutiny wallet just eats my RAM more and more and absurdly more that when i saw it in my task manager, i screamed "WHAT IN THE GRAPH DOES THIS CHONKY BOY DOING TO OPEN MY WALLET".

It uses 4 to 5 GB of RAM.

I am terrified.

Yet still could not open my wallet till today

If you like to risk a force-close. Yes 🤷‍♂️

Seriously: It is an awesome bitcoin wallet and 100 % a great tool.

I personally like PWA first and some parts of Fedimints (privacy) but I do not have much hope left for Lightning itself.

The balance is still in the fedimint i am in, But i am still not able to open the wallet.

On privacy: this hurts privacy for peg-ins and peg-outs for example. Even if there was full KYC, ecash is still a lot more private than a normal custodian. The provider doesn't have a view into your wallet, can't take your ecash, and can't stop you from transacting with others.

Do you think that Fedimints will be the future (regarding mint security), or do you prefer regular mints?

Reminder that Cashu mints have built-in safety measures to ensure that your mint can't be abused. Nutshell limits the maximum balance, size of peg-ins and peg-outs, and request rate limits.

And there is a lot more to come! You should have full control for your specific use case.

We will be adding optional authentication to the protocol that allow services providers to precisely limit access to their mint. This is one of the most-requested features from regulated entitites.

This will allow integrating Ecash into existing KYC and AML infrastructure.